Obama family yet to claim assets held at the Treasury

The Obama family has failed to claim their assets taken over by the Treasury after being deemed idle.

The Unclaimed Financial Assets Authority (UFAA) says the family is yet to apply for assets left behind by Barack Hussein Obama, father of the retired US president.

UFAA, the agency that holds unclaimed assets in trust for rightful owners, is holding East Africa Breweries Limited (EABL) shares of undisclosed value belonging to Obama senior, a former senior economic analyst at the Treasury who died in a car accident in 1982.

The shares were transferred to the authority as was the Obama life insurance cover that the agency has been holding since 2014.

“We have contacted the Obamas to make a claim but a response is yet to come,” said Kellen Kariuki, chief executive at UFAA. “The claim must be made by the rightful person who has the letters of administration.”

Mr Obama had nominated his eldest son Roy Obama, also called Malik, and his youngest wife Jael Otieno as beneficiaries. Obama senior had four wives, two of who he married while in the US. He had eight children.